Top 10 investable I&L projects: Forth Yards, Newcastle, UK

Project overview

Forth Yards is a 51-acre regeneration area occupying a commanding position along the western edge of the city centre, with the River Tyne as its southern boundary and the Redheugh Bridge/St James’ Boulevard as its north-south spine.

A major gateway into the city by road, rail and metro, Forth Yards has the potential to transform Newcastle’s urban landscape and connect west-end communities and neighbourhoods with the city.

At 20 hectares, Forth Yards is Newcastle’s last major underdeveloped water frontage brownfield site area, with an array of industrial archaeological heritage and historic railway infrastructure.

The opportunity

Development partners are being sought to deliver a range of residential, commercial and industrial schemes across the site. Homes England, the UK government’s housing and regeneration agency, is leading the procurement process.

Financials

The 51-acre site has a gross development value of £925m.

Project sponsor

The project is being masterplanned by Newcastle City Council in collaboration with public sector partners including Network Rail, North East Combined Authority and Homes England.

Significance

This is one of the largest regeneration projects in the UK and has the potential to significantly expand the city centre of Newcastle and transform the city’s urban landscape.

Pitch

The project is attractive in a number of ways – it is a brownfield site with water frontage, transport links, strong public sector support, and a track record of securing investment (Hines is building 500 homes on the site).

A new funding package worth £121.8 million has been secured to enable vital remediation, groundworks and infrastructure activity.